The venture was initially put forward in July this year.
The plan is to create a line of non-linear pay-TV content for the Italian market as part of an objective to help Telecom Italia develop its convergence strategy around fixed and mobile broadband networks.
Jacques du Puy, President of Canal+ International, said: “We are very pleased to team up with Telecom Italia for this exciting project in Italy, a major market and we are delighted to be able to develop with TIM content premium, based on our expertise in the production of quality films, television series and documentaries. Over the past few months, Canal+ Group has also demonstrated its ability to create value for telecom operators following strategic partnerships with Orange, Free and Bouygues Telecom.”
The joint venture will be owned 60% by Telecom Italia Media (TIM) and 40% by Canal+.